The Archive · 1937

Local Exchange Report Messrs. Drakeford, Davis & Wilson Inter Bank Cash Delivery

Highest 1/24} Lowest I

1024, Market quiet and Steady London Silver was wi down both ready and forward, being 193) for spot and 194} forward. New York was unchanged at 44% and Bombay was down three annas at 51.02 It is. reported there was some Indian and general selling. America bought, Market quiet, steady. After the official fixing, the market ruled steady, but idle, with America a small buyer at the fixed rate. Sellers were reserved.

The Local Exchange Market opened with sellers for Cash and the month to merchatits at 1/24} Sten-} without meeting sufficient support to ing, 29% U.S$ and 102% Yen. Later in the morning, the market -became a shade firmer both for ready and forward, inter-bank business having been done at 1/2} for Sterling and 29% for U.S. both for Cash and Septr., while October Sterling was being offered at 1/23. Business, on the whole, was quiet and the market finally closed without change.

Text read from the printed page and cleaned; old type leaves the occasional error.

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